The Denver Nuggets have reportedly trimmed their asking price for Peyton Watson, but that doesn’t make him a clean fit for the Chicago Bulls.
According to ESPN’s Shams Charania, Denver had initially set a steep price in sign-and-trade talks, but that number has come down. Even so, the Bulls would be walking into dangerous territory if they chased the deal too hard. Chicago is still trying to figure out exactly what it has, and that makes spending draft capital on a wing with plenty of promise but not much certainty a risky move.
Watson could make sense on paper. The Bulls have built a solid starting group with Matas Buzelis, Nic Claxton, Josh Giddey, Norman Powell, and Caleb Wilson, and Watson’s profile as a 3-and-D wing with shot-creation upside could fit neatly into that mix.
He might even push one of those players into a reserve role. But that’s where the appeal ends and the caution starts.
The biggest issue is that Chicago’s own core is still very much a work in progress. Watson will turn 24 in September, but he’s still coming off a season in which he had never averaged more than 8.1 points per game before 2025-26, and he missed 28 games during his breakthrough.
Giddey flashed like a star before Christmas in 2025, averaging 20.0 points, 9.3 rebounds, and 9.1 assists while shooting .479/.402/.745, then dropped to 14.0 points on .409/.331/.795 shooting in 27 games after Christmas. Wilson is a rookie, and Buzelis has shown two-way upside, but the shooting consistency still isn’t there.
That uncertainty matters because the Bulls are not in a position to start tossing around first-round picks when they don’t yet know which pieces are real building blocks. Patrick Williams is still on the books for three more years and $54 million, and after a season in which he played 20.5 minutes per game and shot .372/.347/.720, it’s hard to see Denver wanting him back in a Watson-centered sign-and-trade. On top of that, Watson is reportedly looking for something in the neighborhood of $25 million per season.
If Chicago got involved, it could end up committing more than $40 million per year over the next three seasons for Watson and Williams combined, all while still not knowing whether either player can hold up to that kind of money. That’s exactly the kind of bet the Bulls should avoid.
Watson might be worth the price someday. Right now, though, the Bulls need to protect their draft assets and keep adding young talent until the picture gets clearer.
They just came out of an era where expensive swings on questionable fits slowed them down. They can’t afford to go back there.
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